*COMPLAINTS REGARDING THE SERVICING OF YOUR MORTGAGE SHOULD BE
SENT TO THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TX 78705. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 877-276-5550.*Applies to residential mortgage loans on real estate in Texas only.

If you are having difficulty making your mortgage payments, you may have one of the following options available:

Forbearance

Reduced Payments

Repayment Plans

Loan Modifications

Short Sale

Deed in Lieu of Foreclosure

If you would like to discuss whether any of these options are appropriate for you, you can contact a servicing representative, toll free, at (866) 609-6552.

In order for our representatives to best serve you with these options, they will need information related to your financial situation.Please be prepared to present the following info to your representative.

A signed and dated explanation of the circumstances you have experienced which have caused you to fall behind, (referred to as a “hardship letter”), from each borrower.

A signed and dated financial worksheet. This worksheet can be mailed to you upon request.Simply contact us at the toll free number provided above.

The three most recent paystubs received for each borrower.

The two most recent year’s tax returns and W-2’s for each borrower.

The three most recent months bank statements for each account held by each borrower.

If any borrower is unemployed, a copy of unemployment eligibility or explanation of benefits.

If any borrower is self-employed, they will need the most recent six (6) months of bank statements for both their business and their personal accounts, a copy of IRS Form 1040 for the previous year, and a six (6) month profit and loss statement that is signed by a CPA.

Each borrower needs to present a copy of their driver’s license.

If your hardship is due to an increase in expenses, provide documentation of your expenses.

A signed and completed request for tax transcripts (IRS form 4506-T) for the previous two years.This form can be downloaded from the IRS or mailed upon request. To request this Form from us, simply contact us at the toll free number provided above.

The Department of Housing and Urban Development (HUD) also has approved housing counselors in your area who are able to help you. You can find a HUD counselor in your area by calling (800) 569-4287.

Why can't I send a post-dated check?

Due to the accounting requirements for mortgage servicers, payments to our office must be processed upon receipt. Therefore, we are unable to accept a post-dated check.

What can I access and view with the online system?

You will need to create an account using your servicing loan number and your Social Security number. After creating your account, you will be able to view statements and account history, as well as change your mailing address. You may also make one-time payments or set up a reoccurring automated draft. Once the draft is set up, the scheduled start time will be displayed on your dashboard.

Why has my payment changed?

Your payment may change due to different escrow account features. Certain provisions in your loan documents may allow for payment changes. When your payment is scheduled to change, you will receive a notice and explanation of the payment adjustment.

Can I have bi-weekly payments auto debited from my bank account?

If you are interested in setting up auto draft payments, contact us at 800.748.4424. Currently, our system is designed so that it only deducts payments to correspond with the terms set forth in your mortgage. Unless the mortgage provides for bi-weekly payments, we cannot deduct them from your account.

When does my account become delinquent?

The due date for your payments is on your mortgage. Traditionally, monthly mortgage payments are due on the first day of each month. In these cases, a mortgage payment that is not made on the first day is considered past due on the second.

What can I do if I am having a difficult time making my mortgage payments?

Please contact us at 800.748.4424. Our representatives will ask some questions and determine the best course to assist you. Please note all of your options are generally time sensitive. If a representative asks you for further documentation, please send it as soon as possible.

Escrow and Impound Accounts

What is an escrow account, and what are the funds used for?

The funds in your escrow account are strictly designated to fund property taxes, hazard insurance, mortgage insurance or any other property-related assessments. Any excess funds in the account are refunded to you with a scheduled escrow analysis. Escrow funds are held in non-interest-bearing accounts, so PRMI receives no monetary benefit from these funds.

Why am I required to have an escrow account?

Escrow accounts may be required as one of the terms of your mortgage. The reasons for requiring an escrow account are determined through the loan origination process. Please contact us at 800.748.4424 to discuss removing your escrow account.

Is there a way to lower my property tax or insurance premiums?

Insurance premiums and tax assessments are the result of independent relations between homeowners and local county assessors or insurance agents. If you contact your local county assessor, you may find there are discounts available to you. Likewise, you may shop for hazard insurance, or ask your current agent if there are better rates available.

An escrow analysis caused my payment to change. Will this happen every year?

An escrow analysis is performed at least every 12 months to ensure your monthly mortgage payment will be able to fund the projected escrow disbursements.

How do I pay for a shortage on my escrow account?

The escrow shortage may be paid at one time by mailing a separate check in the full amount to PO Box 593, Salt Lake City, UT 84110. Please reference your account number and “Escrow Shortage” on the memo line of the check.

Can the refund from my escrow analysis be applied as a payment or posted to principle instead of sending it to me?

Our policy is to send the escrow refund check directly to the borrower(s) on record.

Qualified Written Request: Notice of Error & Request for Information

A Notice of Error or Request for Information is a request for PRMI to research an error or dispute regarding the servicing of your mortgage, or to request information or documentation regarding your mortgage.

To submit your Notice of Error or Request for Information:

The Notice or Request must be in writing

Provide the borrower’s name

Provide the account number

Describe the specific error that you believe has occurred during the servicing of your mortgage loan or describe the specific information you are seeking

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